Dan Gallagher
speaker
617 appearances
15 recordings
1 series
first heard Sep 2017
last heard Nov 2019
Dan Gallagher’s voice in public audio — every appearance, attributed to the second.
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Appearances
And it's a big deal because in literally almost, I think it was about a couple of weeks timeframe, Facebook lost almost $100 billion in market value as this kind of scandal was breaking to light.
And then the stock kind of came to slow climb back up, but it's really accelerated and it's almost as if it never happened.
I think one thing that helped the stock a lot was when Facebook reported first quarter results in late April.
They actually showed much stronger user growth than people had anticipated, which suggested that the scandal had hit in the last month of the quarter
But it didn't seem to have an effect of scaring people off the platform.
In fact, people still seem to come on at a pretty good rate, even faster than they have before.
So I think that was a big part of what made investors think, hey, Facebook, the business is pretty resilient to these sorts of things.
What's concerning here is the company is still in the process of investigating
All the different firms that had access to user data over an eight-year period when they allowed that kind of access.
And that's a very tough challenge even for them.
As the Journal reported in an article this week, some of these firms aren't even in business anymore that had access to all this data.
So being able to chase down what happened and determine...
To me, it raises the distinct possibility of, you know, can there be more scandals like this or even worse ones that could break open?
You know, of course, we don't know.
We don't know.
But I think investors maybe are very, have been very quick to think, OK, this, you know, the company is surviving this without realizing that, you know, there could be potentially a lot more that could break out that that could even be bigger at some point.
It is a tough sell.
And, you know, what I wrote a few times since the Cambridge thing broke is that, you know, Facebook's business does have a lot of resilience to it.
A lot of people use it.
And it's become actually a pretty interwoven into the lives of a lot of its users.
Showing 301–320 of 617 · page 16 of 31
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